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RFs Q3 PAT at Rs.38 crore, Revenue Improves by 17%


Gurgaon, Haryana, India, Tuesday, January 19, 2010 -- (Business Wire India)

-- Q3 FY 2009-10 revenue at Rs. 490 crore, 17% growth
-- Q3 FY 2009-10 PAT at Rs. 38 crore, a marginal increase
-- 9M FY 2009-10 PAT at Rs. 199 crore, 40% growth
-- 9M FY 2009-10 revenue at Rs. 1513 crore, 8% growth
-- SRF commissions the second line for manufacturing BOPET Film project

SRF Limited, a multi-business entity engaged in the manufacturing of chemical based industrial intermediates, posted a net profit after tax (PAT) of Rs. 38 crore during Q3 of 2009-10 recording a marginal increase over the corresponding period last year (CPLY). The company’s revenue during October-December’09 improved by 17% to Rs. 490 crore as against Rs. 419 crore during CPLY. The company’s results were taken on record by the Board of Directors this afternoon. Pursuant to the directions of SEBI, the Board also approved the withdrawal of the buy back which was announced by the company in August 2009.

The improvement in SRF’s revenue is attributable to the improved performance in most businesses. In particular, SRF’s technical textiles business continued to return a strong performance during the quarter in spite of increasing cost of raw materials. The profitability during the quarter ended on 31st December’09 was also impacted by the higher interest and depreciation costs arising from the commissioning of the second Biaxially Oriented Polyes